International probes into the Libor fixing scandal are soon to result in arrests, it was reported today, although the UK authorities still appear to be lagging their international peers.

When suspects are held, they will be the highest-profile arrests since that of alleged UBS rogue trader Kweku Adeboli. Reuters said prosecutors in the US had contacted lawyers of suspects to inform them that criminal charges and arrests could come in the next few weeks. This is common in the US, as investigators hope the lawyers will recommend their clients cut a deal, helping secure convictions and giving further evidence to pursue other culprits.

Regulators in Germany have ratcheted up their probe into Deutsche Bank, with results expected in the coming days.

But in the UK the Serious Fraud Office will only decide at the end of this month whether it has enough evidence to secure a prosecution before taking its investigation to the next stage.